Vodafone Group to sell M-Pesa Holding Company Limited for $1

22 May 2023

Vodafone Group is set to sell M-Pesa Holding Company Limited (MPHCL) to Safaricom, an associate entity of the group, for $1.

Vodafone yesterday announced results for the year ended March, notifying the markets of the pending transaction. It said the group had entered into an agreement in April with Safaricom to sell MPHCL. MPHCL holds M-Pesa customer funds on trust for the benefit of M-Pesa customers in Kenya.

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Afri-USA Business Initiative explores MNO acquisitions in Benin, Chad, and Gambia

16 May 2023

An investment consortium led by Zimbabwean businessman Edd Branson is mobilising a US$100 million fund to obtain holdings in mobile network providers in Benin, Chad, and Gambia.

The consortium – operating under the New York-based Afri-USA Business Initiative – has already put in bids that collectively total US$30 million for a ‘leveraged buyout’ of three beleaguered GSM providers. The initiative has the backing of an investment bank as well as several hedge funds.

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Tmcel verges on bankruptcy

15 May 2023

Tmcel is on the verge of bankruptcy, according to Mateus Magala, minister of transport and communications.

Magala says that it was necessary to implement immediate and urgent measures to save the company. Possible measures include the sale of more than 80% of Tmcel's assets, downsizing and the assumption of debt by the state. This should help attract a strategic partner to help turn around the business.

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GSOA and GVF announce merger

10 May 2023

The Global Satellite Operators Association (GSOA) and the Global VSAT Forum (GVF) today announce that their respective boards have approved combining both associations.

The combination taking effect on 1 June 2023 will result in GSOA becoming a trade association comprised of 70 member companies spanning the entire satellite ecosystem from across the globe with unparalleled resources, experience and relationships developed over their combined 48 years of existence, providing a strong single voice for the satellite industry.

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